The Reserve Bank of India (RBI) on Monday issued a framework for recognition of Self-Regulatory Organisations (SROs) in financial markets towards strengthening compliance culture among the SRO members and also providing a consultative platform for policy making.
The framework specifies the broad parameters, such as objectives, responsibilities, eligibility criteria, membership, governance standards and application process for the recognition of SROs in financial markets.
The RBI has asked interested entities seeking recognition as an SRO in financial markets to submit their application through email or to the Chief General Manager, Financial Markets Regulation Department, Reserve Bank of India.
